As said in a statement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation plan," and that appraisers fulfilling reviews ought to "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's regulations, look no further than Appraise Colorado Inc.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, contact Appraise Colorado Inc today.
Appraisal reviews "have to determine whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is acquired ensures independence and quality," as stated by the Federal Reserve. They "should also indicate whether the appraisal or evaluation report is even with the letter of engagement, which gives an account of the range of the appraisal assignment." Last, The Federal Reserve says that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for a few of their high-liability or greater-value transactions as a channel to aid in uncovering valuation complications."
In addition to adjusting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we will produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Appraise Colorado Inc, we're qualified in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.
Appraise Colorado Inc understands what the most common defects are, specifically in our home market. We also understand what constitutes a quality appraisal. We're also amply skilled to distinguish that our competitors in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to objectively assess appraisal reports executed by others. And those others could be examining our work, too!
In short, at Appraise Colorado Inc, you can rely on our honest judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and service offerings.